NATIONAL FINANCE COMMISSION

NATIONAL FINANCE COMMISSION (NFC) is a constitutional body constituted under Article 160 of the Costitution of the Islamic Republic of Pakistan, 1973. The Order of the President in the light of the recommendations made by the NFC is known as NFC Award.

NFC shall be comprised of Federal Finance Minister, Provincial Finance Ministers, and other persons appointed by the President in consulatation with the Governer Genrals of provinces.

The functions of the NFC are: (a) The distribution of tax proceeds b/w the Federation and the provinces; (b) the making of grants in aid by the Federation to the Provincial govts; (c) the exercise of borrowing powers of the Federation and the provinces; (d) any matter pertaining to finance referred by President.


Could any body point out the very issues hindering the finality of the Award?

Thanx